TeamApt Ltd., the Central Bank of Nigeria (CBN)-licensed switching and processing company and a subsidiary of Moniepoint Inc., has been named Financial Ecosystem Innovator of the Year at the 2026 BusinessDay Banks and Other Financial Institutions (BAFI) Awards.
The award recognises the company’s role as the infrastructure powering a growing share of Nigeria’s financial ecosystem.
For over a decade, TeamApt has built and operated the payment rails behind Moniepoint Microfinance Bank and many of Nigeria’s prominent banks and financial institutions. Its switching, processing and payments infrastructure supports millions of transactions every day, enabling institutions to serve businesses and individuals reliably and at scale.
This year, TeamApt has taken that infrastructure into new sectors of the economy. The company partnered with Awabah to power micro-pension contributions for informal and self-employed workers through its Direct Debit service, enabling enrolment and recurring contributions on POS terminals, beginning with Moniepoint MFB terminals. Most notably, TeamApt is providing the technology infrastructure behind retail access to the Dangote Petroleum Refinery IPO, Nigeria’s largest-ever public offering. Working with Moniepoint MFB, TeamApt processes subscriptions made through Moniepoint POS terminals and the Moniepoint Personal and Business Banking apps, bringing a stake in Africa’s largest petroleum refinery within reach of Nigerians across all 774 local government areas. It is the first time an offering of this scale has been made accessible to retail investors through everyday payment channels, opening Nigeria’s capital market to a new class of investors.
Commenting on the recognition, Dennis Ajalie, Managing Director/CEO of TeamApt, said: “This recognition belongs to every team member at TeamApt and to the banks, financial institutions and partners who trust our infrastructure every day. For more than ten years, we have focused on building rails that are reliable, secure and ready to scale. This year, we have seen what that foundation makes possible, as we power pension contributions for informal workers and open up capital market access to everyday Nigerians. Our goal is to keep extending this infrastructure into every sector where people need it, so that financial happiness is within reach for every Nigerian. Being named Financial Ecosystem Innovator of the Year tells us we are on the right path, and we are only getting started.”
The award was one of three received by the Moniepoint Group at this year’s BAFI Awards, alongside Microfinance Bank of the Year for Moniepoint MFB and SME Finance Transformation Leader of the Year for Tosin Eniolorunda, Co-founder and CEO of Moniepoint Inc.
